OPEC to Cut Exports as Asian Demand Slows, Oil Movements Says
This article is for subscribers only.
The Organization of Petroleum Exporting Countries will reduce crude shipments this month as demand from Asia slackens, according to tanker-tracker Oil Movements.
Loadings will drop 1.1 percent to 23.55 million barrels a day in the four weeks to Feb. 5 from 23.8 million barrels in the period to Jan. 8, Oil Movements said today in a report. It’s the fourth straight month-on-month decline shown in the consultant’s weekly figures. The data exclude Ecuador and Angola.